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UAE-based SpaceTech firm Space42 has secured a $695.5 million Export Credit Agency (ECA)-backed financing facility to support the development of its next-generation geostationary satellites, Al Yah 4 and Al Yah 5. The funding was arranged by Crédit Agricole CIB, Santander CIB, Société Générale, and Natixis, and is backed by Bpifrance Assurance Export, reflecting strong international confidence in the company’s strategic growth plans.
The financing aligns with a 17-year, $5.1 billion UAE government contract commencing in 2026, which underpins Space42’s mission to deliver multi-orbit, secure connectivity solutions across defense and civil domains. The satellites are scheduled for launch in 2027 and 2028, and will eventually replace Al Yah 1 and Al Yah 2, launched in 2011 and 2012 respectively.
Al Yah 4 and Al Yah 5 will feature software-defined architecture with fully flexible payloads, enabling real-time reconfiguration of coverage, bandwidth, and frequency allocation. This capability is designed to meet evolving operational demands across the Middle East, Africa, Europe, and Asia, enhancing mission-critical communications.
“This strategic financing optimizes our cost of capital and strengthens our liquidity to execute our growth agenda,” said Andrew Cole, Chief Financial Officer of Space42. “It marks a pivotal step in our ambition to become the trusted leader in secure connectivity”.
The deal reinforces Space42’s position as a key player in the global satellite ecosystem, advancing the UAE’s sovereign space infrastructure and expanding its role in high-performance communications technologies.
